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Board of Bank of India approves fund raising by various options

Capital Market 

At meeting held on 06 December 2019

The Board of Bank of India has considered and approved the following by circular resolution on 06 December 2019 -

1. The issuance of upto 125 crore fresh equity shares through Qualified Institutions Placement , public issue, rights issue, private placement, or such other mode of issue as permitted at an appropriate time;
2. The issuance of such securities (including Tier I, Tier II bonds, preference shares) which may be classified for Tier I and/or Tier II capital on a private placement / public issue basis, in one or more tranches upto an amount of Rs 10,000 crore at an appropriate time;
3. To obtain shareholders' approval through postal ballot for the above-mentioned matters.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, December 07 2019. 13:19 IST